Manufacturing Still Matters
Way back in 2006, Pioneer was interested in manufacturing. Our Measuring Up study on the cost of doing business in Massachusetts showed that manufacturing was still an important employer in the state and, importantly, was a source of good wages in the places it was located.
More recently, we’ve been intrigued by the possibility of a resurgence in the sector based on rising costs at some of our off-shore competitors.
Now, Brookings Institution has done a comprehensive study of manufacturing jobs across the country. In our major metropolitan areas (Boston, Springfield, Worcester) , manufacturing jobs account for 7% to 11% of total jobs. There’s been a roughly 30% decline in the number of these jobs over the last decade, but they remain ‘good jobs at good wages’ (about 30% higher than the median wage in each region).
Can we take advantage of our newly competitive global environment and build off this important base to create good jobs at good wages? Makes one wonder why we spend so much time on casinos and not on the potential to create many more, better paying jobs.
Crossposted at Boston Daily.